Tax on winning lottery, puzzle, card game, horse race

is lottery money tax free
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Your winnings end up being included in your taxable income, which is used to calculate the tax you owe But before you report your prize and

The winning amount is tax free, however you will be charged when you put it in the bank or when inheritance tax is charged

is there a christmas lottery draw The Pennsylvania Lottery will automatically withhold PA personal income tax on prizes greater than $5,000 claimed after July 12, 2016 Winners of over $600

is it worth playing the lottery But for other state lotteries, you'll be taxed at your ordinary income tax rate Most states that impose taxes on your winnings require some money for those